Politico Bringing Its Power-Centric Formula To New York City

The publication that prides itself on news coverage that's tailor-made for Washington's biggest power players is looking to take a slice out of New York City's market.

Politico announced in a memo circulated Sunday night to staff that its publisher, Robert Allbritton, has purchased the news website Capital New York in a bid to duplicate its Beltway success in the Big Apple.

Allbritton wrote that he intends to "focus laser-like on New York and its power centers, including the media, city and state politics, culture and business."

Politico co-founder and executive editor Jim VandeHei will serve as president of Capital New York while remaining in his current capacity.

He said in a statement that his goal is to make Capital New York "the essential news source for and about the most powerful people in New York -- the officials who run government, politics, business and media."

In an appearance Monday on MSNBC's "Morning Joe," VandeHei said "we're going to test a lot of the theories that have worked really well for us in Washington."